Reply
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: USAA
BUREAU PULLED: EQ
CREDIT SCORE: 649
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: USED
YEAR OF VEHICLE: 2009
MAKE: HONDA
MODEL: ACCORD
MILEAGE: 45.000
RETAIL/LEASE: REFINANCED
AMOUNT OF LOAN: 18.500
TERM CONTRACTED: 60
APR/LEASE RATE: 4.95
MONTHLY PAYMENT: 349
ANNUAL INCOME: 85K
MISCELLANEOUS COMMENTARY: i love USAA. they refinanced from 20.9(santander) to 8.4 APR, then 1 month later my credit score up 20 pt from 62x to 649 they refinanced down to 4.9 . But i still have 2 CO with 0 balance and 1 unpaid medical CA
10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Established Member
LMBray09
Posts: 19
Registered: ‎02-02-2013

Re: Auto Loan Approvals!

APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning :smileyhappy:))) Everyone was right, NFCU is awesome!
Starting Score: FICO EQ 663 (02/04/13)
Current Score: FICO EQ 687
Goal Score: FICO EQ 700 (March 2013)
Contributor
jrodzmc09
Posts: 81
Registered: ‎07-02-2012

Re: Auto Loan Approvals!


LMBray09 wrote:
APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning :smileyhappy:))) Everyone was right, NFCU is awesome!

Congrats on your victory over the APR. :smileyhappy: I still do not understand why many people with 675+ keep on going with USAA and get a 4.99%+, when they can go with NFCU and get a 1.79-2.99% with the same score! It's a no brainer! Once again congrats and enjoy you new vehicle! :smileyvery-happy:

USAA PLATINUM MC: $9.5k | CHASE SAPPHIRE PREFERRED: $5k | NFCU FLAGSHIP REWARDS: $5k | USAA VFW REWARDS: $4k | BARCLAYS FINANCING VISA: $2.3k | CHASE AMAZON REWARDS: $2k | DISCOVER IT: $1k | AMEX BCP: $1K | PAYPAL SC: $1.3k | MACYS: $1.2k | EXPRESS: $600 | NFCU LOC: $2.5k | NFCU AUTO LOAN: $21k
Established Member
davefromca
Posts: 12
Registered: ‎10-22-2012

Re: Auto Loan Approvals!

APPROVING BANK:Bank of America
BUREAU PULLED:Not sure
CREDIT SCORE:749 EQ
CUSTOMER STATE OF RESIDENCE:CA
NEW/USED:New
YEAR OF VEHICLE:2013
MAKE:Honda
MODEL:Fit
MILEAGE:NA
RETAIL/LEASE:$15,400
AMOUNT OF LOAN:15,000
TERM CONTRACTED:6 years/72 months
APR/LEASE RATE:2.74
MONTHLY PAYMENT:~$226
ANNUAL INCOME:35,000
MISCELLANEOUS COMMENTARY: Went on B of A webiste and applied, got a instant phone call to verify some stuff, now just have to pick a color. Hoping to take delivery after work sometime this week. VERY EXCITE!
Established Member
b_Rad
Posts: 22
Registered: ‎02-16-2013

Re: Auto Loan Approvals!

This thread is very useful. Congrats to everyone



Starting Score: 583 February 16, 2013
Current Score: EQ 634 April 11 TU 645 (Walmart) April 2013
Goal Score: 700


Take the myFICO Fitness Challe
Contributor
BKFireFly
Posts: 147
Registered: ‎01-03-2013

Re: Auto Loan Approvals!

APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Valued Member
Sputney23
Posts: 44
Registered: ‎08-13-2012

Re: Auto Loan Approvals!


BKFireFly wrote:
APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.

How much did you have to put down?

EQ 700 Trans 695 Exp 722
Contributor
BKFireFly
Posts: 147
Registered: ‎01-03-2013

Re: Auto Loan Approvals!

i chose to put 1500 down. Kinda wish I put more, but decided I'll just make chunk payments once I figure out how Honda financial allies extra payments
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
New Member
jessientyler0726
Posts: 4
Registered: ‎02-18-2013

Re: Auto Loan Approvals!

APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.
Moderator
Revelate
Posts: 8,437
Registered: ‎12-30-2011

Re: Auto Loan Approvals!


jessientyler0726 wrote:
APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.

Heh seriously congrats, I would've adored to get that rate with my own 551 Auto EX pull; seriously that dealer did you right, though admittedly I did get a pretty easy refinance 8 months later down to 6%, so likely once your CC debt is paid and you have positive history on the auto loan (6+ months) you likely can do better depending where your scores wind up.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+